The company’s gross premiums written (GWP) increased 3.7% year-on-year to ₹1,843 crore from ₹1,777 crore, while net premiums written rose 4% to ₹1,450 crore from ₹1,393 crore.
Underwriting losses widened to ₹178 crore, up from a loss of ₹88 crore in Q2 FY25. Operating losses stood at ₹62 crore, compared with a profit of ₹58 crore a year ago. The solvency ratio was stable at 2.85% versus 2.86% in the previous quarter.
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The combined insurance service ratio (IFRS) for the quarter improved 141 basis points year-on-year to 103.1%. On a broader basis, Niva Bupa reported an overall GWP of ₹2,108 crore for Q2 FY26 (without 1/n basis) and ₹1,843 crore on a with 1/n basis.
For H1 FY26, GWP stood at ₹3,983 crore (without 1/n) and ₹3,475 crore (with 1/n). Retail demand tailwinds were visible post-GST exemption, supporting incremental customer interest in the segment.
Niva Bupa maintained a strong claims settlement ratio of 95.2% in Q2 FY26, reflecting a consistent focus on timely and fair claims processing. The company’s solvency ratio remained robust at 2.85x, well above regulatory requirements, while customer advocacy remained strong with an NPS of 57. The insurer now covers 23.14 million lives as of the end of Q2 FY26.
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Shares of Niva Bupa Health Insurance Company Ltd ended at ₹74.20, down by ₹1.21, or 1.60%, on the BSE.
